Louisiana § 12:1-742 Demand

Louisiana Statutes

§ 12:1-742 — Demand

Louisiana § 12:1-742

Title 12Conservation of Cultural Resources

This text of Louisiana § 12:1-742 (Demand) is published on Counsel Stack Legal Research, covering Louisiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

La. Stat. Ann. § 12:1-742 (2026).

Text

No shareholder may commence a derivative proceeding until the following conditions are satisfied:

(1)A written demand has been made upon the corporation to take suitable action.

(2)Ninety days have expired from the date the demand was made unless the shareholder has earlier been notified that the demand has been rejected by the corporation or unless irreparable injury to the corporation would result by waiting for the expiration of the ninety-day period.

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No shareholder may commence a derivative proceeding until the following conditions are satisfied:
(1) A written demand has been made upon the corporation to take suitable action.
(2) Ninety days have expired from the date the demand was made unless the shareholder has earlier been notified that the demand has been rejected by the corporation or unless irreparable injury to the corporation would result by waiting for the expiration of the ninety-day period.